Federal Perkins Loans are awarded to students whose need has changed significantly after inital review or whose enrollment type typically exhibits greater need than the overall student population.


To receive this loan, you must:

  • Apply for financial aid and demonstrate eligibility.
    (The Federal Perkins Loan will be listed on your Financial Aid Summary if you are eligible.);
  • Be enrolled for the number of units indicated on your Financial Aid Summary*;
  • Submit all required documents to the Financial Aid Office; and
  • Maintain Satisfactory Academic Progress.

*Your enrollment status will be calculated based only on those courses that are required for, or that can be applied as an eligible elective credit toward, your degree or certificate program.

general information

  • The interest rate is fixed at 5 percent.
  • The ten-year repayment period begins nine (9) months after graduation or when you drop below half-time enrollment.

receiving your loan

  • You must authorize the University of Southern California to credit the funds to your student account by signing a Master Promissory Note (MPN) online. The University has partnered with ECSI for this purpose.
  • You will receive an e-mail (at your official USC address) with instructions on how to accept and sign for these loans electronically. You will need your FAFSA PIN to complete the process.
  • For more information, visit the Student Financial Services website.
  • If you choose not to borrow additional Perkins Loan funds in subsequent years, please inform the Financial Aid Office in writing and your award will be canceled.
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